BANGKOK (AP) — Shares opened higher in Europe after gains in Asia on Friday driven by hopes for a strong recovery from the pandemic.
Paris, London and Tokyo advanced and U.S. futures also were higher. Investors appeared to be shrugging off a resurgence of coronavirus cases in many areas and focusing on signs economies are on the mend.
Hopes that economies will regain ground lost since last year’s first outbreaks of coronavirus thanks to COVID-19 vaccinations and huge amounts of government have helped support stocks.
“Although very much in the price, investors did take solace as the positive outlook for vaccines amid President Joe Biden’s plan for an ‘economic rejuvenation,’ which underpinned risk overnight,” Stephen Innes of Axi said in a commentary.
Germany’s DAX rose 0.9% to 14,7521.53 and the CAC 40 in Paris climbed 0.7% to 5,990.86. Britain’s FTSE 100 jumped 0.7% to 6,722.31. The futures for the S&P 500 and the Dow industrials both gained 0.3%.
In Asian trading, Tokyo’s Nikkei 225 index surged 1.6% to 29,176.70 and the Hang Seng in Hong Kong picked up 1.6% to 28,340.97. In Seoul, the Kospi rose 1.1% to 3,041.01. The Shanghai Composite index climbed 1.6% to 3,418.33 and India’s Sensex gained 1.3% higher.
On Thursday, the S&P 500 rose 0.5% to 3,909.52, but was still on track for a loss for the week.